Business, Management, Marketing, Money, Tax, Law, People

The changeable nature of fashion extends well beyond its seasonal changes of what to wear. In recent years, one of the industry’s most dramatic changes involves New York City’s position as a global fashion capital. Within the United States, New York City has the country’s highest concentration of fashion sales, talent, and employment. Activities related to fashion—which we define as fashion retail, wholesale, and distribution, along with textile, apparel, footwear,…

Soaring temperatures, shrinking glaciers, and rising sea levels provide a constant reminder that climate change is intensifying. Many governments, corporations, and individuals have already attempted to reduce emissions by adopting new green tech and want to expand these efforts to prevent a humanitarian crisis. The McKinsey Platform for Climate Technologies represents one such effort, and it focuses on executing and scaling critical climate solutions. Despite such initiatives, however, several obstacles…

Tokenization, the process of creating a unique digital representation of an asset on a blockchain network, has reached a tipping point after many years of promise and experimentation. The benefits—including programmability, composability, and enhanced transparency—can empower financial institutions to capture operational efficiencies, increase liquidity, and create new revenue opportunities through innovative use cases. These benefits are being realized today, with the first at-scale applications transacting trillions of dollars of assets…

As global organizations chart a path to net zero, many are looking to the next frontier of emissions reduction: “Scope 3” emissions. These emissions are not directly produced by a company’s operations, but embedded in its supply chain. They account for the vast majority of companies’ emissions, and a significant portion are generated from supply chain and logistics activities—in particular, from the combination of road and ocean freight. In total,…

For a decade, the Indian chemical industry has been a global outperformer in demand growth and shareholder wealth creation. However, global headwinds have recently interrupted this momentum. Chemical companies in India could navigate these challenges and enhance their future prospects by boosting their competitiveness. Indian chemical industry: Interrupted momentum Indian chemical companies performed better than their global counterparts with strong total shareholder returns (TSR) growing at an annual rate of…

The next generation of electrical/electronic (E/E) architecture for software-defined vehicles (SDV) is evolving toward centralization. By 2032, McKinsey analysis estimates that 30 percent of all vehicles produced globally will have E/E architectures with zonal controllers (Exhibit 1). Importantly for the semiconductor industry, this shift will require centralized, high-performance compute units. In the next ten years, the market for automotive microcomponent and logic semiconductors is expected to grow to $60 billion…

For many years, the Netherlands has enjoyed a robust economy and strong workforce. With a vast active workforce of 9.6 million people (out of a population of 17.6 million), the country has one of the highest employment rates and workforce productivity rates in the European Union. Globally, it ranks fifth for competitiveness, sixth for happiness, ninth for social progress, and tenth on the UN Human Development Index. However, ongoing trends…

Thousands of hours spent working closely with CEOs and other leaders of top corporations and nonprofits have revealed a fascinating business phenomenon: many leaders who have mastered all the right executive skills, including financial acumen, strategic and operational management, and system thinking, still struggle to link their aspirations with the actual performance of their organizations. After a careful analysis of what was holding back these otherwise talented executives, we concluded…

Credit unions in the United States are at a crossroads. Their membership ranks are aging, and young people don’t always see credit unions’ offerings as a good value. That means credit unions need to work harder to attract younger members, or risk fading into irrelevance. (For more details on credit unions—what are they exactly and who can join one—see sidebar, “A brief history of credit unions.”)US credit unions have had…